Last night in the State of the Union Address, President Bush proposed a $2 billion international clean energy fund. The fund, which will last for 3 years, will help develop clean energy technologies in the United States. President Bush also noted that such technologies that promote clean coal and that capture carbon dioxide emissions would greatly help the climate and energy issues that face our country. President Bush said,
"Let us fund new technologies that can generate coal power while capturing carbon emissions. Let us increase the use of renewable power and emissions-free nuclear power. Let us continue investing in advanced battery technology and renewable fuels to power the cars and trucks of the future. Let us create a new international clean technology fund, which will help developing nations like India and China make greater use of clean energy sources. And let us complete an international agreement that has the potential to slow, stop, and eventually reverse the growth of greenhouse gases."
He continued on to say that the proposed fund will only work if every major economy follows and no one is given a free ride. He specifically mentioned that leading greenhouse gas emitters China and India must follow for it to be effective.